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Kresge's personal life is more tragic than his business life, in which he was a constant success. Kresge was married three times. His first two marriages, to Anna Harvey from 1897 to 1924 and to Doris Mercer from 1924 to 1928, ended in divorce. Both women claimed that Kresge's penny-pinching was one of the major contributors to the divorces.
The company was founded by Sebastian S. Kresge, a traveling hardware salesman, and John G. McCrory, owner of eight general merchandise stores in the eastern United States and one of Kresge’s customers. In 1897 the two opened a pair of five-and-ten-cent stores in Memphis, Tennessee, and Detroit, Michigan (McCrory continued managing his McCrory ...
Dec 29, 2022 · Kresge, one of the top three variety store chains in the US, had 742 stores by its 40th anniversary in 1938, mainly in the Midwest and eastern US. By 1952, Kresge introduced a new retail innovation by converting its stores to a checkout system instead of one cashier per showcase. Most locations also had snack bars or luncheonettes. S.S. Kresge ...
Sep 27, 2015 · 1915 – S.S. builds the Kresge Building in Detroit and a home on Boston Boulevard for his first wife and five children. 1924 – With an initial donation of $1.3 million, S.S. creates the Kresge ...
In 1976, S.S. Kresge made history by opening 271 Kmart stores in one year, becoming the first-ever retailer to launch 17 million square feet of sales space in a single year. In 1977, nearly 95 percent of S.S. Kresge Company sales were generated by Kmart stores. To reflect this dramatic impact, the company officially changed its name to Kmart ...
The Growth of Kresge Stores. After eight years working as a salesman, Kresge had saved $8,000. In 1897, he invested his entire savings in the opening of two five-and-dime stores in Detroit, Michigan, and Memphis, Tennessee, with his friend, businessman John McCrory (1860-1943). By 1907, Kresge had bought out McCrory and was on his own.
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